In the United States, union wages are about ______ percent higher than nonunion wages.

The value of a worker's marginal product:

A) is the increment in total cost of a firm when the worker is hired. B) is the additional revenue that the worker brings in to the firm. C) is the maximum price at which a product can be sold in a market. D) equals the average product of a firm divided by the marginal product of the worker.

When the actual inflation rate rises more rapidly than nominal wage rates, we would expect the short-run aggregate supply curve to shift to the right

a. True b. False Indicate whether the statement is true or false